An exploration hole drilled by Goldcorp (G-T) at its mine in Red Lake, Ont., has confirmed one of the mine’s high-grade ore structures at a depth of 2,061 metres, 40 metres below the deepest known extent of the zone.
The hole, 34L-860GW, drilled from the mine’s 34 Level at 1,518 metres vertical depth, cut a 2.4-metre core length grading 186 grams gold per tonne. The mineralization is in the HW5 structure, which holds about 25% of the reserves blocked out in the mine’s High Grade Zone.
Goldcorp has blocked out reserves to 1,768 metres depth on the High Grade zone. The most recent estimate, in September, put the reserve at 1.7 million tonnes grading 69.3 grams gold per tonne. Inferred resources, based on drill intersections between 1,768 and 1,920 metres depth, make up another 430,000 tonnes grading 92.6 grams.
So far four exploration holes below the 1,920-metre level have picked up extensions of High Grade Zone structures.
Goldcorp’s exploration drilling program is aimed at intersecting the High Grade Zone’s vein structures to a depth around 2,100 metres.
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